Super Bowl drives performance, but even without it, revenues were up almost 18%.
For the first quarter of 2012, revenue from Comcast Corp.’s Broadcast Television segment increased 36.9% to $1.9 billion compared to $1.4 billion in the first quarter of 2011 and included $259 million of revenue generated by the Super Bowl.
Excluding the impact of the Super Bowl in the first quarter of 2012, revenue increased 17.7%, reflecting higher primetime ratings and higher revenue from a content licensing agreement.
In the first quarter of 2012, the Broadcast Television segment generated an operating cash flow loss of $10 million compared to operating cash flow of $20 million in the first quarter of 2011, reflecting higher programming and marketing costs to support the mid-season primetime schedule.
Revenue for NBCUniversal increased 18% to $5.5 billion in the first quarter of 2012, reflecting strong revenue growth in every segment, including Super Bowl revenue of $259 million in the Broadcast Television segment.
Excluding the Super Bowl in the first quarter of 2012, revenue increased 12.4%.
Operating cash flow increased 34.3% to $813 million compared to last year’s first quarter. Excluding transaction-related costs totaling $92 million in the first quarter of 2011, operating cash flow increased 16.6%.
For Comcast as a whole, revenue increased 22.7% in the first quarter of 2012 to $14.9 billion, while operating cash flow increased 15.3% to $4.7 billion and operating income increased 24.0% to $2.8 billion.
Brian L. Roberts, Comcast chairman-CEO, said: “We are off to a great start in 2012, with strong revenue and cash flow growth and record quarterly free cash flow. Cable’s results show real momentum in high-speed internet and business services, and continuing improvements in video results and voice services. As we continue to drive innovation and bring the Xfinity brand to life, we’re delivering more and better products and transforming the customer experience.
“We are also pleased with the performance of NBCUniversal, which posted strong revenue growth, led by the Super Bowl and successful film releases, along with reliable growth in our Theme Parks and Cable Networks, and steady progress in Broadcast. NBCUniversal and Cable Communications are also working well together to launch new programs and offer innovative products. We are looking forward to events like the Olympics that will bring together all of our company’s unique abilities to deliver compelling stories and new digital experiences across every screen, in and out of the home.”
Read the company’s report here.